Homeownership and Attention to Inflation: Evidence from Information Treatments

Jessica Piccolo () and Yuriy Gorodnichenko
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Jessica Piccolo: University of Padova

No 317, "Marco Fanno" Working Papers from Dipartimento di Scienze Economiche "Marco Fanno"

Abstract: This paper examines how homeownership status shapes attention to infla- tion and its impact on durable consumption. Using randomized controlled trials on U.S. households (2021–2023), we document systematic heterogeneity in re- sponses to inflation-related information. Homeowners exhibit greater baseline awareness and update their expectations less than renters. Exploiting exoge- nous variation in inflation expectations induced by the treatments, we find that homeowners adjust durable spending significantly, whereas renters do not. These results highlight homeownership as a key factor in the formation of inflation ex- pectations and their influence on economic behavior.

Keywords: Homeownership; mortgages; inflation expectations; durable consumption. (search for similar items in EconPapers)
Pages: 56 pages
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Related works:
Working Paper: Homeownership and Attention to Inflation: Evidence from Information Treatments (2025)
Working Paper: Homeownership and Attention to Inflation: Evidence from Information Treatments (2025)
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Persistent link: https://EconPapers.repec.org/RePEc:pad:wpaper:0317

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